Market Movements Now | Arabian (2200) Pipes Surges 7% on Dual Aramco (2222) Deals; 3 Saudi Stocks Hit 52-Week Highs Despite Challenging Market Conditions
MAADEN 1211.SA | 0.00 | |
SAUDI ARAMCO 2222.SA | 0.00 | |
ADES 2382.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 |
TASI Mid-Market Update — March 24, 2026
Saudi Arabia’s benchmark Tadawul All Shares Index(TASI.SA) once decreased by more than 0.6% in early trading and recovered to statable at the time of this reporting. The index's contraction was primarily driven by downward pressure from major large-cap equities, with the Saudi Arabian Mining Co.(1211.SA) (Ma'aden) declining by 4% and Saudi Arabian Oil Co.(2222.SA) falling by 2%.
In corporate news, Ades Holding Co.(2382.SA) once recorded a 3.9% gain in its share price. This early upward movement followed the company's announcement of an increased fiscal year 2026 EBITDA guidance range of SAR 4.50 billion to SAR 4.87 billion, representing a 33% to 44% increase compared to the previous year. However, gains have been pared to 0.9%.
Within the broader macroeconomic context, global oil prices have trended upward amid ongoing supply chain curtailments affecting crude and liquefied natural gas shipments through the Strait of Hormuz.
With the other large caps, Al Rajhi Bank(1120.SA) up by 1%, The Saudi National Bank(1180.SA) increased 2% and Saudi Basic Industries Corp.(2010.SA) higher by 1.7%.
Notable News
Arabian Pipes Surges 7% on Dual Aramco Deals
Arabian Pipes Co.(2200.SA) secured two supply contracts with Saudi Arabian Oil Co.(2222.SA) worth approximately SAR 241 million for manufacturing steel pipes. The agreements, spanning nine and eleven months respectively, utilize the firm's domestic factories. Financial contributions are expected between Q3 2026 and Q1 2027, triggering a 7% surge in the company's share price following the announcements.
Red Sea Increases Capital Rights Offering
Red Sea International Co.(4230.SA) detailed a rights issue to settle bank liabilities from its First Fix acquisition. Following a 2.23% stock rise, the move aims to eliminate cash flow pressures, facilitating the subsidiary's future listing. The capital will also fund residential complexes for the Oil & Gas sector and geographical expansion into Makkah and Madinah to capture growing property demand.
Solutions SAR 1.4B Contract Supports 2027 Financial Growth
Arabian Internet and Communications Services Co.(7202.SA) signed a SAR 1,396,914,055 contract with Saudi Arabian Oil Co.(2222.SA) to build advanced upstream supercomputer infrastructure for oil exploration and reservoir analysis. The one-year project involves deploying two high-performance computing systems and providing lifecycle managed services. Financial impacts are expected to materialize in Q1 2027, further cementing the strategic partnership between both entities.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
| Dallah Healthcare Co.(4004.SA) | 2026-03-04 | 2026-03-24 | 2026-04-07 | SAR 0.50 |
| Albilad Saudi Sovereign Sukuk ETF(9403.SA) | 2026-03-01 | 2026-03-01 | 2026-03-24 | SAR 0.0278 |
Related reads: When will users receive dividends?
New 52-Week High before 12:10 pm
| Symbol | 52W High Price |
|---|---|
| SABIC Agri-Nutrients Co.(2020.SA) | 141.00 |
| Al Majed Oud Co.(4165.SA) | 167.10 |
| Al-Jouf Agricultural Development Co.(6070.SA) | 52.10 |
Significant Volume Surge before 12:10 pm
| Symbol | Volume Change% | 3M Average Volume | Today's Volume So Far |
|---|---|---|---|
| Al-Etihad Cooperative Insurance Co.(8170.SA) | 183.38% | 171,170 | 485,070 |
| Bawan Co.(1302.SA) | 175.42% | 162,103 | 446,468 |
| City Cement Co.(3003.SA) | 110.56% | 285,316 | 600,765 |
| Methanol Chemicals Co.(2001.SA) | 85.65% | 401,788 | 745,926 |
| Arabian Pipes Co.(2200.SA) | 74.52% | 3,487,903 | 6,087,042 |
| Aldawaa Medical Services Co.(4163.SA) | 52.27% | 148,309 | 225,826 |
| Nice One Beauty Digital Marketing Co.(4193.SA) | 51.17% | 523,395 | 791,216 |
| LIVA Insurance Co.(8280.SA) | 45.71% | 52,291 | 76,193 |
| AlSaif Stores for Development and Investment Co.(4192.SA) | 44.12% | 247,804 | 357,142 |
Top Gainers before 12:10 pm
| Company | Price | Change % |
|---|---|---|
| Bawan Co.(1302.SA) | 45.90 | 9.97% |
| Arabian Pipes Co.(2200.SA) | 5.12 | 6.89% |
| Saudi Industrial Development Co.(2130.SA) | 10.33 | 6.49% |
| Middle East Specialized Cables Co.(2370.SA) | 21.34 | 5.96% |
| LIVA Insurance Co.(8280.SA) | 10.15 | 5.51% |
Top Losers before 12:10 pm
| Company | Price | Change % |
|---|---|---|
| Almasane Alkobra Mining Co(1322.SA) | 88.50 | -6.0% |
| Nice One Beauty Digital Marketing Co.(4193.SA) | 12.16 | -5.22% |
| Saudi Arabian Mining Co.(1211.SA) | 66.30 | -4.67% |
| Al-Etihad Cooperative Insurance Co.(8170.SA) | 6.15 | -4.5% |
| Alandalus Property Co.(4320.SA) | 14.06 | -3.1% |